Andrei Bogdanov, a well-known Russian businessman and millionaire, plans to invest up to RUB 300 million (USD$10 million) in building of one of Russia’s largest paper mills in the city of Togliatti of the Samara region.
It is planned that the new factory will specialize in the recycling of waste paper in paper, cardboard and corrugated board.
The first phase of the project is expected to be launched in late 2015. The plant will reach its full design capacity of 35 000 tonnes in 2017, according to the director of the factory Artem Antashev.
The company plans to occupy up to 1.5% of the Russian market of corrugating paper fluting and liners by 2017, while by 2021 this share will be increased up to 2.5%.
According to Antashev, the new plant will process 100 tons of waste paper per day.
